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Much of the real estate advice shared today tends to focus heavily on first-time homebuyers to prepare them to enter the world of real estate. But what about the opposite side of that? When you’re at the stage in life where you’ve owned a home but are now ready to downsize?
Knowledge and preparation are just as essential for moving into this new stage of your real estate journey. There will come a day when your current home is too large for you. Maybe you are an empty-nester wanting to travel more, and having a large house with a yard and lots of upkeep is holding you back. Or possibly you want to simplify your lifestyle to cut costs, be closer to grandchildren, or address medical needs.
Whatever your reason for downsizing to a smaller home, here are some tips to avoid an often stressful and tolling process—both emotionally and physically:
Start Early
Rushing the downsizing process will inevitably invite stress and hardship, so expect that this will take longer than you initially anticipated and take your time to sort through your house. This will lighten the load and make this transition a lot smoother.
Start Small
You likely have years and years of belongings to sort through, and getting off to a good start will help ease you into the process. It’s a good idea to start in a small area with little emotional attachment, like the laundry room or linen closet.
Only Make “Yes” or “No” Piles
It’s tempting when you find items that tug on your heartstrings to want to begin making a mental note of things to keep if you have the room. But trust me when I say these “maybes” will only lead to disappointment, as it grows larger than both the “yes” and “no” piles combined! And when that happens, you’ve only accomplished moving items across the room.
Take a hard look at every item. If you use it regularly, keep it. But it’s time to let the things go that have been sitting in storage for more than a year.
Eliminate Duplicates
The kitchen may be where you notice this most. You will likely have 2 or 3 spatulas and ladles, a couple of oversized stockpots, and 4 different-sized cookie sheets. Now’s the time to reduce the clutter.
If you’re feeling weary of handing off that second roasting pan because you use it every Christmas, consider giving it to a younger family member who may be hosting the next holiday meal. This is a great way to keep mementos, like good china, in the family.
Eliminate Rooms
The very idea of downsizing means you will have fewer rooms in your new home. This could mean you will no longer have a garage or office space, or you may be moving from a 2-storey home to an apartment-style condo. This means nearly everything in those spaces will need to be sold, donated, or relocated to other rooms.
Consider consignment, garage sales, or online marketplaces when relieving yourself of these items. One tip is to organize backwards—pack what you will keep from these rooms, and then you can decide how to dispose of whatever is left.
Reduce Collections
It can be hard to split up a lifetime collection of porcelain dolls, but an entire collection will eat up valuable space in a smaller home and will likely end up in a box that will never get unpacked since there is nowhere to display them. Consider choosing a select few to bring with you, then taking a photo of the full collection before breaking it up. Then you’ll have a nice photo to display on your mantle or coffee table as a reminder.
Give Gifts
If you had planned to pass your china collection on to your children in your will, why not give it as a gift now so that you can see the joy your donation brings to your loved ones? This has the benefit of not only relieving you of having to store or finding a place for it in your new home, but you will also be able to see and enjoy them in their new homes!
Allow Time to Reminisce
We all know it’s easy to take a walk down memory lane—all it takes is finding something with a memory attached to it. Whether it’s your child’s artwork, trophies, or photographs, it’s okay to pause and let the nostalgia take over for a bit. Cry if you need to; this is why you started early.
Use the Time as a Chance to Bond
Ask for help from family, and take this time to go through family heirlooms together and discuss who would love to have your antique clock in their home. It can be one more moment you can share in the family home you’ve loved before you start making memories together in your next home. Remember, it’s family that’s important, not the stuff around you.
Downsizing can be particularly heart-wrenching, so make it as easy as possible with appropriate planning and organization. When the time comes to sell your home and find your next one, I would be happy to help you find the perfect one to meet your new downsized needs!
